AIG closes 117,000 s/f Park Avenue sublease.AIG AIG addressee indicator group (US DoD)
AIG American International Group, Inc
AiG Answers in Genesis (religious group in defense of Scripture)
AIG Artificial Intelligence Group
AIG Australian Industry Group has completed a 117,500 s/f sublease sublease n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. at 277 Park Avenue.
The firm took floors 41-44 and 46 from JP Morgan Morgan, American family of financiers and philanthropists.
Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. Chase, which subleased the space for rents that start at $93 per s/f but climb to $103 per s/f over the deal's 14 year term.
The lease--which was first reported by Real Estate Weekly in its January 31 issue--is the most recent in a number of large leases that AIG has taken in recent months.
The firm was applauded when it returned to 160 Water Street last April, a building where it had terminated its 410,000 s/f lease after 9/11 because of security concerns.
AIG then leased 250,000 s/f at Financial Square in December, adding to the almost 4 million s/f it already occupies in Lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North . In that deal, the firm took floors 6, 19-22, 27 and 28 for rents that begin in the mid $40s per s/f and climb into the $50s per s/f over the life of the deal.
Cushman & Wakefield's Frank Cento and Larry Tannenbaum represented the building's landlord, Paramount Group, in the deal. CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. vice chairman Lewis Miller represents AIG.